Oscar Health Posts $167 Million Profit in Third Quarter

The insurer's revenue rose 70% as it expands its Affordable Care Act offerings into South Carolina for 2027.

Updated on Nov. 5, 2026 in Healthcare

Oscar Health Posts $167 Million Profit in Third Quarter

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Oscar Health reported $167.3 million in third-quarter 2026 net income, or 49 cents per share, compared with a net loss of $137.4 million a year earlier. The company also said it will expand its Affordable Care Act offerings into South Carolina for 2027, bringing its footprint to 21 states.

Why it matters

The results reflect growth in membership and better management of medical costs at a time when larger insurers such as Cigna and CVS Health are exiting the individual health insurance market. Those exits leave millions of people shopping for coverage, creating openings for insurers that remain in the market.

Oscar's third-quarter revenue rose 70% year over year to $5.1 billion, and its 2026 earnings from operations guidance was raised for the third time to $850 million to $950 million. The company's medical loss ratio fell to 84% from 88.5% a year earlier, though the company did not address whether that trend will continue.

The players

Oscar Health

Oscar Health is a health insurance company focused on the individual and small-group markets created under the Affordable Care Act.

Mark Bertolini

Mark Bertolini is the chief executive of Oscar Health, a former Aetna executive who has led the company since March 2023.

Cigna

Cigna is a major national health insurer that announced plans to exit the individual health insurance business.

CVS Health

CVS Health is a diversified health services company whose Aetna unit announced plans to exit the individual health insurance business.

The details

Oscar's membership grew to 2.7 million from 2.1 million a year earlier, and the company said it was on pace to make 2026 its strongest year. The company turned a full-year profit in 2024 and has been led by Mark Bertolini since March 2023.

2023 (March): Mark Bertolini named Oscar's top executive.
2024: Oscar turned a full-year profit for the first time.
2026 third quarter: Oscar reported $167.3 million in net income.
2027: Oscar's Affordable Care Act offerings expand into South Carolina.

Market Landscape

Cigna and CVS Health's Aetna unit both announced plans to exit the individual health insurance business, affecting about 369,000 Cigna members in 11 states and about 1 million Aetna members in 17 states. Oscar's expansion into South Carolina moves in the opposite direction, as it positions the company to capture members those exits leave behind.

Shoppers in the individual market may find more insurer options in 2027 as Oscar expands into new states and others exit. Those comparing plans should check whether their current insurer is leaving the market before open enrollment.

The takeaway

Insurer exits and expansions shift which carriers people can choose from, so reviewing available plans during open enrollment is worthwhile. Coverage options can change quickly when large companies leave a market.